Sunbeach

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Sunbeach Communications Inc. is the leading Internet Service Provider, Internet webhosting provider and mobile/wireless phone company located in Barbados. Since the mid-1990's Sunbeach has been one of the chief competitors to the incumbent telecommunications company Cable and Wireless in providing Internet. Sunbeach later became Barbados' largest Internet company. Sunbeach started out offering Internet service but then expanded into other areas. The managing Director of the company is Ian Worrell.

1 History
2 Internet
3 Webhosting
4 Mobile
5 Laqtel
6 References
- 6.1 See also
7 External link

[edit] History

Founded in November 1995 as an Internet service provider (ISP) in Barbados to compete against Caribsurf (the brand name used by Cable and Wireless for Internet service provision in the Caribbean) Sunbeach grew to become the largest ISP in Barbados by mid 2001. In January, 2002 it was made public that Sunbeach and the UK based telecommunications brokerage called International Telecom Brokers Limited (ITB) were comtemplating and formulating a strategy to complete their merger. The advantages raised by the companies were that Sunbeach in Barbados could draw from the experience of the UK team and have a far more expanded international reach. The merged company would be based in Barbados, with a subsidiary operating from the United Kingdom. The touted benefits to be derived were, a lower cost of product to the consumer, an increase of products especially in e-commerce and emerging m-commerce, and the ability to make Barbados far more competitive with other business locations such as the Cayman Islands and Bermuda. Leading up to the Sunbeach and ITB Ltd. merger problems started to surface. Personnel at the companies tried to allay fears and promise that the merger will create in increase of jobs, lead the company on an international path, as well as joint listings on the Alternative Investment Market (AIM) of the London and [1] Barbados Stock Exchange (BSE) and also that new investors from the United Kingdom would help raise needed funding for establishing a local 3G GSM mobile phone network.

In July 2004, the future of Sunbeach was called into question, an audit of the company by Deloitte & Touche cited that the company's future hinged on establishing more capital to secure a future for the company.

Following this, on September 28th, 2004 Sunbeach Communications had its shares suspended on the Barbados Stock Exchange because of the serious financial position of the company until the Annual General Meeting meeting could be held with shareholders. Following the delisting on the BSE, the Board of Sunbeach voluntarily asked the Alternative Investment Market (AIM) on the London Stock Exchange to suspend shares there as well. This led to Sunbeach becoming delisted from the AIM in April, 2005.

In June, 2005 Sunbeach announced that Telecom Holdings Limited, (TH) of Trinidad and Tobago wished to acquire a significant stake into Sunbeach Communications Inc and the board of Directors urged shareholder to agree to a sale of partial ownership. This never happened, see the section on Laqtel below.

In November 2006 the suspension on Sunbeach's shares were lifted - see the Barbados Stock Exchange website for information [2] and a block trade announced bringing a new major shareholder and partner on board. This new partner will provide the funding needed to allow Sunbeach to launch its Cellular network and provide the re-capitalization needed allowing the company to move forward.

[edit] Internet

Sunbeach Communications' Internet services go by the name Sunbeach. According to the promotions by the company, Sunbeach claims they are the largest Internet provider in Barbados. The company provides services to both residential and commercial clientel with services that include: dial-up Internet, ADSL, Software downloads, Leased Line, Frame Relay, ISDN, webhosting, and Co-location services. The company also hosts a Tucows software webserver at (tucows.sunbeach.net)

[edit] Webhosting

Sunbeach has offered Webhosting practically from its genesis. Past clients include the CWeek, Daily NationNews and Advocate newspapers, the Government of Barbados and several organisations around the island.

[edit] Mobile

Getting set to launch a CDMA 2000 1x RTT EV-DO (rev.A.) network, Sunbeach stands poised to bring new and real choice to the local market, roaming for the first time to visitors from North America and other countries who use CDMA networks, along with an array of new services.

[edit] Laqtel

On September 6th, 2005 an article by the Barbados DailyNation, first made public the intentions of an attempt by Telecom Holdings Limited, (TH) of Trinidad to purchase Sunbeach Communications Inc. Telecom Holdings Limited as a holdings company of LaqTel Communications, made an offering of US$2.59M, to obtain majority shareholding of the Barbados-based Sunbeach Communications.

As part of the deal, Sunbeach was to remain a mostly Barbadian company, many of the board of directors were promised to remain Barbadian and Sunbeach Communications would continue to be traded on the Barbados Stock Exchange with its over 700 shareholders. Shares of Sunbeach were suspended on the BSE in September, 2004 when they last traded for about $0.55 per share.

Once launched, Sunbeach through LaqTel would be the only CDMA and 3G wireless / mobile provider operting in Barbados. Sunbeach's competition in Barbados includes both Digicel and Cable and Wireless. Since the deal was first announced, AT&T Wireless had changed its name to Cingular and had subsequently exited the Caribbean market, Cingular had then turned existing customers over to Digicel.

To date Laqtel have been unable to raise their financing. They split from their equity partner, SasTel in February 2006 and have been searching for a new partner since then. Their current CEO - Dr. Joseph Laquis, a general practitioner and ex politician is heading the company and Mr. Richard Nixon - ex sales executive from Nortel is their COO.